Spark Energy, Inc. (SPKE) Receives “Buy” Rating from FBR & Co
“Solid 2017 guidance. SPKE provided 2017 adjusted EBITDA guidance of $90M– $100M (versus $80M–$85M for 2016), implying 15% YOY growth at the midpoint of the range. The lower end of guidance is modestly ahead of the Street consensus of $89M. The guidance assumes customer acquisition costs of $27M–$33M, higher than our prior forecast of $21.7M, implying slightly better revenues and/or margins than we had forecasted. In addition, the guidance does not include any potential contribution from drop-downs or acquisitions. Management has discussed its intention to pursue at least one acquisition in 2017, but whether that manifests from buying a customer book or an entire company remains to be seen. We believe the latter would have the potential to move the stock if similar in size to either the recent Major or Provider acquisitions, obviously partly depending on multiple, geography, and cost structure.”,” the firm’s analyst commented.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Spark Energy from a hold rating to a strong-buy rating and set a $33.00 price objective on the stock in a report on Wednesday. TheStreet downgraded shares of Spark Energy from a buy rating to a hold rating in a report on Monday, December 12th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $31.00.
Spark Energy (NASDAQ:SPKE) traded down 1.34% during trading on Thursday, reaching $29.55. 41,590 shares of the company were exchanged. The stock’s market capitalization is $191.96 million. The firm’s 50 day moving average price is $28.07 and its 200-day moving average price is $27.68. Spark Energy has a one year low of $17.70 and a one year high of $35.63.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Thursday, December 1st were issued a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Tuesday, November 29th.
In other news, Director W Keith Maxwell III acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were acquired at an average cost of $30.50 per share, for a total transaction of $30,500.00. Following the purchase, the director now owns 265,968 shares of the company’s stock, valued at approximately $8,112,024. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 57.88% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of Spark Energy by 0.4% in the third quarter. BlackRock Advisors LLC now owns 24,570 shares of the company’s stock worth $716,000 after buying an additional 100 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Spark Energy by 1.0% in the third quarter. California State Teachers Retirement System now owns 10,352 shares of the company’s stock worth $302,000 after buying an additional 100 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Spark Energy by 3.9% in the third quarter. Teachers Advisors LLC now owns 6,763 shares of the company’s stock worth $197,000 after buying an additional 256 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Spark Energy by 8.1% in the second quarter. PNC Financial Services Group Inc. now owns 16,100 shares of the company’s stock worth $532,000 after buying an additional 1,200 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in shares of Spark Energy by 31.9% in the third quarter. Eqis Capital Management Inc. now owns 9,397 shares of the company’s stock worth $274,000 after buying an additional 2,273 shares in the last quarter. Institutional investors and hedge funds own 36.32% of the company’s stock.
Spark Energy Company Profile
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in United States with an alternative for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment. It operates in approximately 50 utility service territories across over 20 states and has approximately 328,000 residential customers and over 19,000 commercial customers, which translates to approximately 415,000 renewable energy credits (RCEs).
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